A bankruptcy plan approved in the South Florida's $1.2 billion Scott Rothstein Ponzi scheme will likely restore money lost by hundreds of investors, the Associated Press reported on Friday. A federal bankruptcy judge on Thursday approved the liquidation plan for Rothstein's former Fort Lauderdale law firm. Much of the money is coming from TD Bank, which investor attorneys claim played a role in Rothstein's scam. The bank has denied wrongdoing but is paying about $363 million to Rothstein investors in a variety of judgments and settlements so far. Attorney William Scherer is seeking further financial sanctions against TD Bank over failure to release key documents.
